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ByBit suffers $1.5 billion Ethereum heist in cold wallet breach

The sophisticated attack exploited ByBit’s Ethereum cold wallet, but all other systems are reportedly unaffected.

CryptoSlate

Feb 22

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Happy Saturday!

In today's crypto landscape, a monumental breach has rocked the industry as ByBit confirms a staggering $1.5 billion theft from its Ethereum cold wallet, marking one of the largest hacks in history. This sophisticated attack has raised alarms about security vulnerabilities, especially as it is linked to North Korea's notorious Lazarus Group. Meanwhile, Bitcoin's price remains steady as major holders ease profit-taking, providing a momentary buffer against market volatility. Cybersecurity experts are now urging firms to enhance their defenses in light of these escalating threats. Stay tuned for more insights on these critical developments.

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The global crypto market cap is $3.2 trillion, with a 24-hour volume of $107.79 billion. The price of Bitcoin is $96,756.89, and BTC market dominance is 59.9%. The price of Ethereum is $2,781.62, and ETH market dominance is 10.5%. The best-performing sector is eCommerce, which gained 6%. The Crypto Fear & Greed Index is currently Neutral (49).